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    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Powszechny Zaklad Ubezpieczen : Disclosure of delayed inside information and adoption and approval of the PZU Group Strategy in 2021-2024

03/26/2021 | 10:30am EST

Date of preparation:

25 March 2021

Issuer's abbreviated name:

PZU SA

Current Report No. 2/2021

Subject:

Disclosure of delayed inside information and adoption and

approval of the PZU Group Strategy in 2021-2024

Legal basis:

Article 17 section 1 of MAR - inside information

Body of the report:

Acting pursuant to Article 17 section 4 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC ("Market Abuse Regulation") the Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna ("PZU SA", "Company") has delayed public disclosure of the following inside information:

1. Content of the inside information whose public disclosure has been delayed

Acting pursuant to Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC ("Market Abuse Regulation"), the Management Board of Powszechny Zakład Ubezpieczeń Spółka Akcyjna ("PZU SA", "Company") hereby reports that it adopted a resolution on 24

March 2021 to put in place a long-term development and operation plan for the Company laid down in a document entitled "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024".

At the same time, the PZU SA Management Board resolved to submit a motion to the PZU SA Supervisory Board for approval of this document.

2. Reasons justifying delay of disclosure of inside information

The PZU SA Management Board believes that the delay of disclosure of inside information meets the conditions set out in the Market Abuse Regulation and in the European Securities and Markets Authority guidelines under MAR dated 20 October 2016 issued pursuant to Article 17(11) of the Market Abuse Regulation on the grounds that prompt disclosure of the information could violate the legitimate interests of PZU SA, since it could pose a threat to the public opinion's capacity to assess this information properly, because the long-term development and operation plan for the Company formulated in the document "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024" must be additionally approved by another corporate body, namely the PZU SA Supervisory Board. The immediate publication of this information following only the PZU SA Management Board's adoption of a resolution could pose a threat to the public opinion's capacity to assess this information properly by making the erroneous impression that the document hasalready been approved.

3. Date of disclosure of inside information

PZU SA will promptly publish the inside information after the Company's Supervisory Board has adopted a resolution to approve the long-term development and operation plan for the Company formulated in the document "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024".

The moment of delay in the disclosure of inside information was the date of adoption by the PZU SA Management Board of Resolution No. UZ/74/2021 of 24 March 2021 to put in place the long-term development and operation plan for the Company formulated in the document "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024" and to submit a motion for its approval to the PZU SA Supervisory Board.

At the same time, the PZU SA Management Board hereby reports that, on 25 March 2021, the PZU SA Supervisory Board adopted Resolution No. URN/34/2021 to approve the long-term development and operation plan for the Company formulated in the document "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024".

The key assumptions for the PZU Group strategy in 2021-2024 are disclosed by the Company in the attachment.

The Company will present the document "#PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024" on its website at https://www.pzu.pl/strategia.

Legal basis: Article 17 section 1 of MAR - inside information.

Attachments:

File

Description

PZU Group Strategy in 2021-2024.pdf

Presentation - #PZU Potential and growth - We care about the most important things in life. PZU Group Strategy in 2021-2024.

Disclaimer

PZU - Powszechny Zaklad Ubezpieczen SA published this content on 25 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2021 15:30:02 UTC.


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